Birmingham has previously missed out on some major industrial development due to the lack of a large site.

City Council leader Ian Ward said: "One of our biggest challenges is to create jobs and opportunities for a young and growing population and this much-anticipated development site is forecast to create up to 10,000 jobs, contributing £350 million to the local economy.

"I am delighted that 'Peddimore, Birmingham' has attracted such strong interest from the international industrial property market and we have such a strong shortlist of partners who want to deliver this fantastic opportunity for the city of Birmingham and the wider region."

City development director Waheed Nazir added: "I am grateful for all of the parties that expressed an interest in this exciting development opportunity.

"We have an extremely strong shortlist of potential development partners and I look forward to working with the successful bidder to deliver this exceptional opportunity."

How Peddmore development could look

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Owned by Birmingham City Council, 'Peddimore, Birmingham' offers the opportunity to bring forward up to three million sq ft (around 251,000 sq m on 71 hectares) of manufacturing and logistics space, with access to a skilled workforce drawn from 2.6 million people living within just 40 minutes' drive.

It is also less than half an hour from the Birmingham and East Midlands airports, making 'Peddimore, Birmingham' one of the country's most strategically well-positioned and connected development opportunities to emerge in the last five years.